At the outset of the COVID-19 pandemic, the outlook for peer-to-peer car-sharing operators was bleak. Users and members vanished along with revenue and investment. Nearly a year later, a very different picture is emerging as operators have found renewed interest and enhanced prospects from an increased interest in personal transportation and the cost savings offered by the sharing economy.
This finding emerged from Strategy Analytics’ new Automotive Connected Mobility global database of Peer-to-Peer (P2P) car-sharing operators, tracking more than 50 unique operators across 33 different countries.
What has emerged from this pandemic-fueled recovery is a global phenomenon with more than 50 P2P operators, 1.3 million vehicles, and 42 million users; reflecting low barriers to entry and a compelling low-cost, low-investment business model. In fact, more than half of the P2P operators tracked in Strategy Analytics’ database were founded within the last three years, suggesting the global P2P car-sharing competition is just starting to heat up.
In the “Global Peer-to-Peer (P2P) Car Sharing Database 2020 Topline Report”, Strategy Analytics details the top 5 P2P car sharing operators in terms of the number of vehicles, the number of users, geographic reach, and total funding.
“Car sharing continues to boom amid the ongoing pandemic,” says Roger C. Lanctot, director of automotive connected mobility for Strategy Analytics.
“For many, P2P car sharing flourishes due to accessibility, convenience, and relative cleanliness compared to public transportation. This business model is here to stay,” says Ben Lundin, industry analyst for automotive connected mobility.